California defies recession fears to post job growth, record low unemployment
California’s unemployment rate dropped to the lowest it has been in four decades as the Golden State outpaced the nation in job creation last month.
Joblessness stood at 4% in September, less than in any month since the current methodology was introduced in 1976, state officials reported. That was down from 4.1% in August and a year earlier.
Year over year, state payrolls grew by 320,000 jobs, to a total of 17.53 million. That was a 1.9% growth rate, compared with 1.4% nationwide.
Led by three sectors — professional services; arts, entertainment and recreation; and manufacturing — employers added 21,300 jobs during the month, down from an exceptionally strong 32,000 in August.
The U.S. unemployment rate was 3.5% in September.
“California is not immune to risks faced in the rest of the U.S. and the world, but for now, the state’s jobs machine continues to purr, defying recession fears,” said Lynn Reaser, an economist at Point Loma Nazarene University in San Diego.
https://www.latimes.com/business/story/2019-10-18/california-jobs-and-unemployment-september-2019
= new reply since forum marked as read
J/K, I know there are problems down there, I used to live there. Sounds lately like Prop 13 is rearing its ugly head as housing gets more and more unaffordable, even for folks with jobs.
I moved away, as much for emotional reasons as economic, though I was getting to where my life was unsustainable in the early Oughts.
